Category: identity theft

As your trusted financial advisor, it is important to keep you informed to ensure you have accurate information and updates about the process for reporting your investment income and preparing your tax documents. In an effort to save you and your CPA some frustration, we advise that you NOT file your taxes until at least April

One of the many provisions within the SECURE Act that helps business owners, is the ability for companies to establish certain tax-qualified retirement plans beyond the December 31, 2020 deadline.  Previously, an employer had to adopt a workplace plan by the last day of the employer’s tax year.While employer contributions could be made after year-end,

This holiday season certainly does not look like any other we have experienced. It takes a bit of a mindset change to make the most of what should be a cheerful and hopeful time of year. Typically, during this season, our team partakes in a service project to help others. Because we cannot be together in person, we decided to change our perspective and think about what others have done for us and how often small random acts of kindness can inspire us all to be a bit more joyful this year. We hope you enjoy us sharing how kindness has recently entered our lives and inspired us to act with a little more kindness ourselves.

Minneapolis / St. Paul Business Journal Leadership TrustBy Sharon Olson, President, CFP and Nicole Scanlon, J.D., Managing Director, Family Wealth. Olson Wealth Group brings wise counsel and clear strategies to deliver real-life returns for generational wealth. My company helps families build wealth and pass it down through generations. But of course, it’s more than just

Last Thanksgiving, I posted this message on our website and received a favorable response from my clients. I thought it might be good to repost since the homeless have been especially hard hit this year.

Today is Give to the Max Day! Consider joining thousands of generous donors in helping to support local charities. While giving cash is one way, there are many other ways to maximize your generous donation so that it fits within your financial plan. #GTMD20

IRA owners are seeking alternative ways to incorporate tax effective giving strategies into their estate plans. One way to maximize a gift to a beneficiary, while also benefiting a charity of choice, is by using a Charitable Remainder Trust (CRT).

Electing to roll over your 401(k) while keeping your company shares intact is allowed under the IRS’ net unrealized appreciation (NUA) rules.

What is the most efficient and least costly process to use your investment portfolio to access cash when you need it.

Recent changes in tax laws have resulted in important provisions that have created unique and unprecedented opportunities for charitable minded investors.

The CARES Act, Section 2206 offers an opportunity that benefits both employees and employers. Until the end of this year, employers can pay up to $5,250 toward an employee’s student loans tax-free.

I recently received an e-mail from a client who found a new focus and clarity during his time of transition.

Today we are highlighting four timely topics related to 529 plans and the economic environment: time horizon, left-over 529 funds, tax considerations for college refunds and qualified apprenticeship training programs

The Coronavirus Aid, Relief and Economic Security Act (CARES Act) that was passed March 27th, 2020 includes temporary, but meaningful, changes to laws relating to income planning for 2020.

As we have been advised to exercise our business continuity plan and work remotely, I am surprised by the ease and efficiencies we have uncovered while working together “apart.”

Before anyone makes sudden shifts in their asset allocation strategies based on recent market actions, we believe it is important to keep the following points in mind...

Transitions in a career, sale of a business, retirement, buying or selling a home, children or grandchildren, or other life change can cause stress. This discussion with Ruth Tongen, Senior VP of think2perform, highlights how clients can go through transition in a healthful way.

President Trump signed The Setting Every Community Up For Retirement Enhancement Act of 2019 (The SECURE Act) into law on December 20th, 2019. The thirty-one sections of legislation came at long last through bipartisan efforts throughout 2019, and they include some key changes to decisions, rules, and elections relating to how pre-tax accounts play into retirement income and other financial planning.

Turning your interest into a sustaining hobby is the first step to enjoying those golden years in retirement.

With the recent blast of frigid air and Thanksgiving around the corner, I would like to share a very personal experience that I’m sure has happened to you also.

Cash balance pension plans have seen a rebound in popularity as small businesses and professional groups seek a balance between sometimes competing desires to attract new employees, supplement benefits for senior executives and owners, and minimize tax and benefit expenses.  Most often used as a complement to defined contribution arrangements such as 401k and profit sharing plans, properly designed cash balance plans provide a greater degree of flexibility and potentially much greater tax benefits.  From both a short- and long-term standpoint, it may be an option worth exploring.

Under current tax laws, ‘Superfunding’ a 529 college saving account allows you to make five years of contribution ( 5 X $15,000 = $75,000)  at one time while still qualifying for the annual gift tax exclusion. 

Timing the market like a 50/50 coin toss is risky and a gamble we urge our clients to avoid. Here's why...

Although the financial industry tells us that 4% is the appropriate rate of withdrawal from a retirement fund, this oversimplification may result in almost 20% of retirees running out of money. An historical look at the bond market shows why applying a 4% rate of withdrawal will be disastrous to many retirees.

We clearly have complicated feelings about money and spouses and children can make it even more difficult if we aren’t on the same page about managing money. The New York Times presents “Best Tips for Managing Money”, sage advice about how to prevent money management from fracturing families.

In my experience, 70% of my clients who own businesses do not have a retirement savings plan. For many entrepreneurs, their wealth is tied up in their firms. These few steps can help you pursue your retirement goals.

If you have a large amount of money sitting in a checking or other low-interest account, you may be surprised to find out just how much more income you could realize by exploring other options.

The volatility we experienced in December challenged investors to understand their personal truth around risk and investment principles.  As a wealth manager over multiple market cycles, I have found the following investor traits bring greater clarity to financial and investment decisions.

Last month, we spoke about ‘dusty wills’ when you have to blow off the dust because it’s been so long since you reviewed them. In Part 2, Paul Brown, attorney and president of Chandler & Brown, LTD, continues to share some real-life examples of what can happen if estate planning oversight is neglected.

Do you have a "dusty will"? When it comes to estate planning, this article illustrates what can happen if "life events" such as marriage, divorce, birth of a child or grandchild, move to another state, death of a beneficiary or receipt of an inheritance are overlooked.